Principal Financial Group Inc. Has $16.14 Million Position in Zions Bancorporation, National Association (NASDAQ:ZION)

Principal Financial Group Inc. trimmed its position in Zions Bancorporation, National Association (NASDAQ:ZION) by 32.0% in the third quarter, Holdings Channel.com reports. The firm owned 341,698 shares of the bank’s stock after selling 160,857 shares during the period. Principal Financial Group Inc.’s holdings in Zions Bancorporation, National Association were worth $16,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. raised its position in Zions Bancorporation, National Association by 18.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,589 shares of the bank’s stock valued at $460,000 after buying an additional 1,680 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Zions Bancorporation, National Association by 3.5% in the first quarter. SG Americas Securities LLC now owns 13,273 shares of the bank’s stock valued at $576,000 after buying an additional 453 shares during the period. Sei Investments Co. grew its stake in Zions Bancorporation, National Association by 0.7% in the first quarter. Sei Investments Co. now owns 73,467 shares of the bank’s stock valued at $3,188,000 after acquiring an additional 530 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Zions Bancorporation, National Association by 4.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 191,539 shares of the bank’s stock valued at $8,313,000 after buying an additional 7,911 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Zions Bancorporation, National Association during the first quarter worth $770,000. Institutional investors own 76.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Stephens boosted their target price on Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Argus cut Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Compass Point boosted their target price on Zions Bancorporation, National Association from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.59.

Zions Bancorporation, National Association Stock Down 0.2 %

ZION stock opened at $59.51 on Friday. Zions Bancorporation, National Association has a fifty-two week low of $33.66 and a fifty-two week high of $61.80. The stock has a fifty day moving average of $50.44 and a 200-day moving average of $47.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 5.33 and a beta of 1.07.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.21. Zions Bancorporation, National Association had a return on equity of 13.89% and a net margin of 14.09%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $781.63 million. During the same period in the previous year, the firm earned $1.13 EPS. As a group, equities research analysts predict that Zions Bancorporation, National Association will post 4.85 earnings per share for the current year.

Zions Bancorporation, National Association Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41. Zions Bancorporation, National Association’s dividend payout ratio is 39.18%.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, VP Eric Ellingsen sold 1,238 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the sale, the vice president now owns 35,878 shares of the company’s stock, valued at approximately $2,182,817.52. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer Anne Smith sold 3,605 shares of Zions Bancorporation, National Association stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $209,306.30. Following the sale, the executive vice president now directly owns 24,714 shares of the company’s stock, valued at approximately $1,434,894.84. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,228 shares of company stock worth $519,048 over the last quarter. 2.22% of the stock is currently owned by corporate insiders.

Zions Bancorporation, National Association Company Profile

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.